Lead futures surge 1.19% on global cues

Lead futures prices rose 1.31 per cent at Rs 112.30 per kg today, largely in tandem with a firm trend in base metals overseas.

Strong demand from batter makers and other consuming industries at the domestic markets, also supported the rise in lead futures prices.

Lead for delivery in December contract traded Rs 1.45, or 1.31 per cent higher, at Rs 112.30 per kg, with a business turnover of 65 lots, at the Multi Commodity Exchange counter.

Similarly, the metal for delivery in November gained Rs 1.35, or 1.23 per cent, to Rs 111.25 per kg, with a business volume of 1,391 lots.

Analysts said a firm trend in the entire base metals pack at the London Metal Exchange (LME) on a weak dollar, which boosted appeal for the metals as an alternative investment and on accelerated manufacturing in China, the world's largest user of the industrial metals accelerated overseas, mainly led to a rise in lead futures prices.  

Meanwhile, at the LME, lead traded 1.2 per cent higher at $2,478 per tonne.